Steel Partners seeks new board directors for Sapporo
Steel Partners Japan Strategic Fund, the US investment fund which holds about 18% of leading Japanese brewer Sapporo Holdings, has sent letters to other shareholders, seeking their support for Steel’s plan to appoint new board directors ahead of Sapporo's general shareholders meeting, due March 30.
Steel Partners publicly announced the campaign, as Sapporo has rejected the proposal made in late January to replace six out of ten board members with ones nominated by the US fund. In the letter to shareholders,...
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